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Brazil & USA: Comparing Corporate Regimes - Insider Trading

Please join CSIL on Monday, November 14, 2016 6:30 - 8:00 PM in JG 105 for the first lecture in a two-part series comparing the corporate regulatory regimes of Brazil and the United States. 

This event is co-sponsored by the Program in the Law and Economics of Capital Markets and the Steven Friedman Fund in Business Law.

Insider Trading

Both Brazil and the United States regulate insider trading, however the countries differ greatly on their enforcement patterns.  In Brazil, no one has ever gone to jail for insider trading.  In the United States, 39 people have entered federal prison since 2009, including Mathew Martoma, sentenced to 9 years in federal prison (SAC Capital Advisors), Raj Rajaratnam, sentenced to 11 years in federal prison (Galleon Group), and David Riley, sentenced to 6.5 years in federal prison (Foundry Networks).  Given recent economic turmoil in Brazil, will there be changes in enforcement of insider trading statues?


Nelson Eizirk

Former Commissioner, The Securities and Exchange Commission of Brazil (CVM); Founding Partner, Carvalhosa e Eizirik Advogados; Professor of Corporate and Securities Law, Fundação Getulio Vargas (FGV) 

Marcelo S. Barbosa

Chairman of the Advisory Board, Columbia Global Center in Rio de Janeiro; Founding Partner, Vieira, Rezende, Barbosa e Guerreiro; Fundação Getulio Vargas (FGV) Direito, Rio

Merritt B. Fox

Michael E. Patterson Professor of Law and the NASDAQ Professor for the Law and Economics of Capital Markets, Columbia Law School (CLS); Co-Director, Center for Law and Economic Studies and Co-Director of the Program in the Law and Economics of Capital Markets, Columbia Law School (CLS)


Earlier Event: November 7
1L Summer Jobs Panel